In 2022, a good chunk of the product category sold was Beauty & Household Essentials, which represented 26% of the total revenue, followed by Food & Beverage with 20%, Home Furnishings & Décor 19%, Hardlines 18%, and Apparel & Accessories 17%.
Target generated over $109 billion in revenue and $2.78 billion in profits in 2022, compared to $106 billion in revenue and almost $7 billion in profits in 2021.
In 2022, Target generated $104.6 billion in revenue, with nearly $85 billion coming from stores and $19.7 billion from digital, compared to $92.4 billion in 2021, of which $75.8 billion from stores and $16.6 billion from digital.
Target generated most of its sales from its stores in 2022. Indeed stores’ sales represented over 81% of the total sales, while digital represented 18.6%. Yet, digital sales have grown from 8.8% of the pre-pandemic total to 18.6% by 2022.
In 2022, a good chunk of the product category sold was Beauty & Household Essentials, which represented 26% of the total revenue, followed by Food & Beverage with 20%, Home Furnishings & Décor 19%, Hardlines 18%, and Apparel & Accessories 17%.
With over $572 billion in net sales in 2022, Walmart operates a differentiated Omni business model with three primary units comprising Walmart U.S., Walmart International, and Sam’s Club (a membership-only warehouse club), together with Walmart+. This subscription service includes unlimited free shipping, unlimited delivery from its stores, and discounts launched in 2021.
Walmart generated over $572 billion in revenue in 2022 and over $13.6 billion in net profits in the same year. Compared to over $559 billion in revenue in 2021 and over $13.5 billion in net profits.
Walmart’smission can be summarized as “helping people around the world save money and live better – anytime and anywhere – in retail stores and through eCommerce.” While its vision is to “make every day easier for busy families.” Walmart defines “busy families” as the bull’s eye of its business strategy.
Walmart has a hybrid hierarchical-functional organizational structure, otherwise referred to as a matrix structure that combines multiple approaches. On the one hand, Walmart follows a hierarchical structure, where the current CEO Doug McMillon is the only employee without a direct superior, and directives are sent from top-level management. On the other hand, the function-based structure of Walmart is used to categorize employees according to their particular skills and experience.
From humble beginnings just over 50 years ago, Walmart has become the world’s largest retail company. A single small discount store in Arkansas has now expanded to over 11,000 stores in 28 countries. Some reports suggest that the company makes $1.8 million of profit every hour.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
